Common use of Books and Records Reports Clause in Contracts

Books and Records Reports. Mortgagor shall keep proper books of record and account, which shall accurately represent the financial condition of the Mortgaged Property. Mortgagee and its authorized representatives shall have the right upon reasonable advance notice, and at reasonable times, from time to time, to examine the books and records of Mortgagor relating to the operation of the Mortgaged Property including, but not limited to, title and survey information. As a condition to any such inspection, Mortgagee shall execute and deliver in favor of Mortgagor a confidentiality agreement which, in the good faith determination of both Mortgagor and Mortgagee, is in form and substance reasonably satisfactory to Mortgagor and Mortgagee, provided that (i) during the period prior to any foreclosure of the Mortgaged Property, the following information concerning the Mortgaged Property shall be deemed not to be confidential information for purposes of such confidentiality agreement: title and ownership information as to property and equipment, property survey information, equipment operating logs, equipment maintenance logs, and equipment warranty records, and any other information available in public records and (ii) during the period after any foreclosure of the Mortgaged Property, only the following shall be deemed to be confidential information for purposes of such confidentiality agreement: pricing information, production costs information, customer information. Mortgagee shall agree to comply, and cause its representatives to comply, with all occupational health and safety rules and regulations governing the operation of the Mortgaged Property.

Appears in 5 contracts

Samples: Security Agreement and Fixture (Blue Steel Capital Corp), Security Agreement and Fixture (Blue Steel Capital Corp), Security Agreement and Fixture (Blue Steel Capital Corp)

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